CyberMiles (CMT) – Beginner’s Guide, Information & Review
What is CyberMiles?
CyberMiles is a blockchain platform that is designed for E-Commerce. It consists of a protocol, a virtual machine and a library of smart contracts to enable fast E-Commerce transactions.
CyberMiles is aiming to build their own high-throughput blockchain with delegated Proof-of-Stake as consensus mechanism.
The token of the platform is called CMT, and it is currently and ERC20-token but can later be swapped to native tokens when the CyberMiles blockchain is fully developed.
CyberMiles was started from E-Commerce company 5miles, which was founded by Lucas Lu in 2014. He is the current CEO of both ventures. 5miles made an excellent start and is increasingly putting Ebay under pressure. In November 2017 CyberMiles raised ~30 million USD through a token sale.
Can CyberMiles be mined?
No, the consensus mechanism is dPos. Therefore you cannot mine, but you can stake your tokens to help secure the network and get additional tokens as compensation.
To be allowed to validate transactions, you have to put a specific amount of CMT-tokens as collateral, and you get compensated with additional tokens as a reward. The ROI is set at 8%.
What differs CyberMiles from other Cryptocurrencies?
CyberMiles aims to provide a platform for the future of E-Commerce, where shops can be hosted on immutable ledgers and transactions are censorship-resistant.
How much is CyberMiles worth today?
What is the total and the circulating supply?
The total supply of CMT is 1,000,000,000 and the circulating supply at the time of writing is 633.879.774 CMT.
Where can you buy CMT?
You can buy CMT on several cryptocurrency exchanges, most notably Binance and Huobi.
Can CMT be sold for cash?
The project is currently in testnet, and the launch of the mainnet is scheduled for Quarter 4 of 2018. Additionally, they offer “mining machines” for sale which can be used to store and stake your tokens.
Verdict and Rating
7.5/10 No public and permissionless blockchain that exists today can handle the amount of data that is needed to facilitate E-Commerce transactions and host E-Shops. It is highly likely that CyberMiles is building a blockchain that achieves high transaction through put with the use of very few validator nodes.
This does not offer the same security as traditional blockchains but increases performance. I am not a fan of sacrificing decentralization in favor of security or the dPoS consensus mechanism.
The strength of this project is their business connections and a platform which gives the token a head start. The real advantage of CyberMiles is that it is the blockchain wing of 5miles, an already established company with millions of users. This could lead to massive adoption. One to watch.
DisclaimerThe writer’s views are expressed as a personal opinion and are for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
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